Home' A Plus Magazine : May 2013 Contents Maintaining our
e are now making final prepa-
rations to host a high-level inter-
national event: the seventh IFRS
Regional Policy Forum on 5 and
6 June. International standard-setters, together with
accounting and financial leaders from around the
world, will be attending the two-day event at the
InterContinental Hong Kong to discuss how to pave
the way towards better financial reporting.
Taking opportunity of the forum, the Asian-Oce-
anian Standard-Setters Group, of which our vice
president Clement Chan will soon be the chair, will
be holding their interim meeting, and we will also
be conducting financial reporting seminars in con-
junction with the International Accounting Standards
Board in Hong Kong during that week.
Another important global activity took place last
month when the Institute and HSBC co-hosted the
launch of the consultation draft of the international in-
tegrated reporting framework produced by the Inter-
national Integrated Reporting Council. Hong Kong was
one of 15 major cities worldwide to launch the draft.
Integrated reporting provides concise communi-
cations about how an organization’s strategy, gov-
ernance, performance and prospects lead to the
creation and maintenance of value in the short,
medium and long term, which at the end will ben-
efit companies, investors and society as a whole.
Don’t miss your chance to influence the future of
corporate reporting by responding to the consulta-
tion draft before 15 July.
We recently visited the Qianhai Bay free-trade
zone in Shenzhen to continue our efforts to strive for
business opportunities for our members under Sup-
plement IX to the Mainland and Hong Kong Closer
Economic Partnership Arrangement, which among
other things, allows Hong Kong CPAs who have ob-
tained the Chinese Institute of CPAs qualification
to become partners at Mainland accounting firms
in that area. This pilot programme is a good way
to create a model for other cities in the Mainland.
On another note, I wish to thank Hong Kong chief
executive C.Y. Leung, who led a team of senior govern-
ment officials to visit our Beijing office during his re-
cent trip to the Mainland. We talked about standards
convergence and our various cooperation activities
with other Mainland stakeholders. Our Beijing city
group members also shared their views on the current
working and living environment in the capital.
Back in Hong Kong, we held our first members’
forum, meeting face-to-face with our members and
answering their questions in relation to the Council’s
work. I enjoyed the chance to engage in sincere and
direct interaction with members very much. These
events are extremely valuable for keeping the Insti-
tute’s strategies in line with our members’ thinking.
The forums will continue on the last Monday of
each month and each one will have a unique theme.
I look forward to meeting with you together with the
Institute’s chief executive and Council members.
One membership group we eagerly support is
our professional accountants in business. A num-
ber of initiatives are in the pipeline, including a
complimentary three-month subscription to the
ICAEW’s finance and management faculty, which
provides relevant practical and technical advice
and support to enable PAIBs to stay ahead in the
business world. We are also developing other pro-
grammes to help PAIBs in their career cycle and
will update you when we have more news.
Another project supported by the Institute is the
Financial Times non-executive directors’ diploma.
The Institute has been expending considerable effort
to review the localization of the audit and account-
ing modules of the course, which has a good track
record and reputation in the United Kingdom.
Lastly, I wish to extend my warmest welcome
to the 1,600 newly admitted members since June
2012. A cocktail reception on Saturday 11 May is
specially hosted to let them learn more about the
services and career development support offered
by the Institute.
In this 40th anniversary year, I am proud of our
Institute’s growth from a small and humble body
in 1973 to an influential player in international
accounting and finance in 2013.
“I am proud of
growth from a
small and humble
body in 1973 to an
finance in 2013.”
May 2013 1
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